Fox Factory Holding Corp. (NASDAQ:FOXF) Shares Acquired by Geneva Capital Management LLC

Key Points

• Geneva Capital Management LLC increased its stake in Fox Factory Holding Corp. by 4.0%, now owning 1.29% of the company, valued at $12.57 million.
• Fox Factory reported earnings of $0.23 per share for the recent quarter, exceeding analysts' expectations of $0.22, with revenues of $355.03 million.
• Several analysts have recently upgraded their price targets for Fox Factory, with Truist Financial raising it from $28.00 to $34.00 and maintaining a "buy" rating.

Geneva Capital Management LLC raised its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 538,644 shares of the company's stock after purchasing an additional 20,692 shares during the quarter. Geneva Capital Management LLC owned approximately 1.29% of Fox Factory worth $12,572,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. RWWM Inc. boosted its position in shares of Fox Factory by 79.0% during the 1st quarter. RWWM Inc. now owns 3,576,560 shares of the company's stock valued at $83,477,000 after acquiring an additional 1,579,029 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Fox Factory by 6,413.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,352,242 shares of the company's stock worth $40,932,000 after acquiring an additional 1,331,480 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in Fox Factory during the 4th quarter valued at $19,252,000. Millennium Management LLC grew its stake in shares of Fox Factory by 722.1% in the fourth quarter. Millennium Management LLC now owns 391,403 shares of the company's stock worth $11,848,000 after purchasing an additional 343,793 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Fox Factory by 46.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 821,380 shares of the company's stock valued at $24,863,000 after acquiring an additional 261,140 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Stifel Nicolaus reduced their price target on Fox Factory from $40.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Truist Financial lifted their price target on shares of Fox Factory from $28.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $35.00.

Fox Factory Price Performance

Shares of NASDAQ FOXF traded down $0.25 during midday trading on Tuesday, reaching $29.60. 575,297 shares of the stock traded hands, compared to its average volume of 717,402. The company's 50 day moving average is $27.07 and its 200 day moving average is $25.29. Fox Factory Holding Corp. has a one year low of $17.95 and a one year high of $44.27. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.18 and a quick ratio of 1.36. The stock has a market capitalization of $1.23 billion, a PE ratio of -4.94 and a beta of 1.50.

Fox Factory (NASDAQ:FOXF - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $355.03 million for the quarter, compared to analyst estimates of $330.71 million. Fox Factory had a positive return on equity of 4.70% and a negative net margin of 17.64%. Fox Factory's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.29 EPS. On average, equities research analysts anticipate that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.